Security Federal Corp., holding company for Security Federal Bank, reported Monday that it had higher quarterly net income.
For the quarter that ended in June, the Aiken banking company reported $769,000 in profits, up from $621,000 in the quarter in 2012.
The increases in earnings is a result of an increase in non-interest income, bank officials reported.
The company had total assets of $867.4 million, down from $890.4 million at the beginning of the year. Deposits also decreased, from $676.3 million at the year’s open to $671.1 million at the end of the quarter.
Security Federal Bank has 13 branch locations in South Carolina and one in Georgia.